Revision u/s 264 in favor of assessee - CIT rejected the ...

Case Laws Income Tax

September 21, 2023

Revision u/s 264 in favor of assessee - CIT rejected the application - Petitioner has not filed the revised returns u/s 139(5) of the Act but he has admitted to an inadvertent error in declaring total income as Nil vide a rectification application. Admittedly, he is entitled to a refund of Rs. 72,370/- for excess amount of tax deduction at source. - CIT directed to accept the rectified ITR and process the same in accordance with law - HC

View Source

← Previous Next →

Revision u/s 264 in favor of assessee - CIT rejected the ...

Case Laws Income Tax

September 21, 2023

You may also like:

Revised return filed after expiry of one year - voluntary revised return u/s 139(5) or return filed in pursuance of notice u/s 148 - Revised return after approval of...

Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

Rectification of mistake u/s 154 - belated return u/s 139(4) - Subsequently revised - request of rectification based on revised return - not permissible as belated...

Revised return - original return of income was filed within time - Revised return is a loss return which should have been filed within the time specified u/s 139(3) of...

Revised return u/s 139(5) rejected - Revision in the sales figure - in a case assessee files the revised return then it is to be taken into consideration for the purpose...

Scope of section 80A(5) - Revised return was not permissible and revised return of revised return is not thought of by the legislature. Thus, u/s 139(5) once return is...

The assessee filed an original return u/s 139(4) and later discovered an omission, wrongly claiming deduction u/s 57 for interest paid on borrowed capital under 'Income...

Revision of ITR - All period of limitations has been over - ultimately justice has to be rendered as nobody's income has to be taxed twice. Only re-course available in...

The issue pertained to the validity of filing a revised return after the prescribed time limit. The High Court set aside the Tribunal's order, stating that after the...

Not accepting the revised return of income and disallowing the claim of loss - Submission of return for losses - there is no specific denial u/s 80 that the return filed...

Revised return - rectified return was in fact a new return - u/s 139 (5), it is not open either to rectify or to revise return after there was a delay in filing a said...

Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

Power to file Revised returns of income pursuant to the scheme of arrangement and amalgamation approved by the NCLT - scheme approved u/s 391 of the Companies Act gives...

Validity of revised return u/s 139(5) - return was revised after issuance of intimation u/s 143(1) - claim of benefit of excess set off of losses and carry forward of...

Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return....

Quick Updates: